Tuesday Tips – January 5th, 2016
Mutual of Omaha GUL Reprice
Mutual of Omaha has repriced their GUL. In certain bands pricing has gone down and in others it has gone up. In addition to this they have extended the number of years the GRO rider is available which gives increased access to cash value. Call today for additional details and state availability.
Athene Raises Rates
Athene has increased rates on the TargetHorizon series and Benefit 10. Caps have increased and spreads have decreased on the TargetHorizon series and the rollup rate has increased on the Benefit 10. Call today for additional details and state availability.
Social Security Maximization
Life insurance can potentially be a useful tool in maximizing social security income. Properly funding an accumulation life insurance product prior to triggering social security benefits can create a pool of cash that can be drawn from income tax free. This income could be taken in conjunction with social security income or in replace of social security income in order to defer triggering benefits in order to get a higher benefit. In addition to this the death benefit can provide a much needed death benefit in the event of one of the spouses passing away prematurely. Call today for additional details.
According to the most recent numbers from the IRS, to be in the top 1% of income earners the magic number is $428,713. The top 1% took home 19% of the total AGI and paid in 38% of the total income taxes due. The bottom 50% earned just 11.5% of total AGI and paid in 2.78% of all income tax.
North American Guarantee Builder
North American’s Guarantee Builder is a competitive FIUL that offers upside protection as well as guarantees. The product offers a full death benefit guarantee to age 120 in addition to annual point to point caps as high as 13.5%. In addition to this the product offers free chronic and terminal illness riders. Call today for additional details.